IBAC vs REX: Correlation
How closely do IB Acquisition Corp. (IBAC) and REX American Resources Corporation (REX) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBAC and REX?
On 3 years of weekly data the IBAC/REX correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.26 over 3. The 5-year figure is n/a, and annualized covariance runs at -18.7 %².
Within IBAC's tracked universe of 62 assets, REX comes in at #44 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months REX outperformed by 31.4 percentage points (+3.3% for IBAC against +34.7% for REX). Risk is not evenly split, since REX carries 19.1 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IBAC vs REX: side by side
| IBAC (IB Acquisition Corp.) | REX (REX American Resources Corporation) | |
|---|---|---|
| 1-year return | +3.3% | +34.7% |
| 5-year return | n/a | +190.5% |
| Volatility (ann.) | 2.1% | 40.2% |
| Beta vs S&P 500 | -0.00 | 0.44 |
| Max drawdown (3Y) | -3.2% | -41.6% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBAC | REX |
|---|---|---|
| 2022 | – | -0.4% |
| 2023 | – | +48.5% |
| 2024 | – | -11.9% |
| 2025 | +3.7% | +55.0% |
| 2026 | +3.7% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBAC and REX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBAC and REX?
As of 2026-08-27, the correlation of weekly returns between IBAC and REX is -0.26 over 3 years, -0.32 over 1 year and n/a over 5 years.
Is REX a good diversifier for IBAC?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibac-vs-rex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibac-vs-rex/)
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Related comparisons
Hubs: IBAC correlations · REX correlations
